News: Solid business structure helps Deutsche maintain AA rating

EPN: European Pensions & Investment News, April, 2003

Rating agency Fitch has maintained a credit rating of AA for the institutional business of Deutsche Asset Management (DeAM), a unit of Deutsche Bank. Fitch said in a statement that the rating reflected DeAM's "solid business structure" on the one hand and the "rigour of its investment processes" on the other.

Regarding DeAM's business structure, Fitch said that following last year's acquisition of Scudder, the US-based asset manager, DeAM had significantly expanded its presence in the crucial US market and had adopted a "global approach" to equities. DeAM's purchase of Scudder in April 2002 made it one of the world's five biggest asset managers. The group currently has E726bn in assets under management worldwide, 58% of which come from institutional clients.

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